Tax shelters for Italy?
A tax levy system based on the French model and easy payment terms for investments will be created to support Italian cinema. Rocco Buttiglione the Italian minister for Cultural Goods and Activity, made the announcement in Venice, while making the promise that the new measures will be added to the Italian Finanziaria in 2006.
Buttiglione explained that a round table will be organized in the next few days with the different categories so as to define the levy across all cinema areas: "Thanks to this tax , cinema will support itself, as it already does in France". Thanks to the "cultural exception" principle recognized in cinema, this measure will not go against European directives. "The American majors will indirectly finance our cinema, added the minister, "but it is a grant to be invested in Italy".
As for the Tax shelter, two proposals have been studied, which are currently in the hands of the Italian Ministry of Economy, and they will relate to the 2006-2008 period. The tax decreases will only concern cinema companies that reinvest in the sector.
The minister has also brought up the problem of piracy: "After the 25 culture ministers' encounter at the Cannes Film Festival, a European directive is being implemented".
(Translated from Italian)
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